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Sector Update: Tech

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Tech stocks were lower late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 0.8% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 2.8%.

The Philadelphia Semiconductor index dropped 1.8%.

In corporate news, Nvidia (NVDA) has considered participating in a $20 billion-valuation funding round for Mercor, a data labeling provider that helps it develop its open-source AI models, The Information reported. Nvidia shares were fractionally higher.

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